Question

Find the amount to be paid at the end of 3years in each case. a) principal =1,200 at12% p.a​

Answer 1

$1632

Explanation:

Given data

Principal= $1200

Rate= 12%

Time= 3 years

The simple interest expression is given as

A= P(1+rt)

substitute

A=1200(1+0.12*3)

A=1200(1+0.36)

A=1200*1.36

A=$1632

Hence the amount is $1632